The Cloud, an exciting platform that uses cutting-edge technology and a unique model to bridge the gap between businesses and customers in the virtual cloud kitchen space has raised $12 Million in Series B Funding round out of a total $30 million it is raising.The funding round saw participation from a new investor, MENA Moonshots, showcasing confidence in The Cloud’s mission to innovate and expand.
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The Cloud’s growth will be accelerated by the additional funds, which are intended primarily for worldwide expansion, operational improvements, and the continued development of the company’s proprietary technological platform. The Cloud’s growth will be accelerated by the additional funds, which are intended primarily for worldwide expansion, operational improvements, and the continued development of the company’s proprietary technological platform.
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This milestone, coupled with debt financing from Aluna Partners, and the strategic acquisition of the UK-based food tech startup KBOX, marks a significant stride for The Cloud.
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The Cloud’s acquisition of KBOX strategically expands its footprint by 200 locations in the UK. This move underlines the company’s commitment to driving innovation and asserting leadership in the food tech sector, setting the stage for expansion across the UK and other GCC and European markets such as Saudi Arabia, Lithuania, Belgium, and Netherlands.
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Georges Karam, CEO of The Cloud, shared his enthusiasm for the new developments, stating: “Our Series B funding and the KBOX acquisition reinforce our position as innovators in the global food tech landscape. Having raised a total of $22 million, we are now focused on enhancing our market presence in the UAE and beyond. Our in-house developed technology and proactive acquisition strategy reflect our vision for industry consolidation and our commitment to scaling strong homegrown brands internationally. Looking forward, we continue to actively eye more strategic acquisitions while also seeking to raise further capital.”
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Stefano Sciacca, Managing Director at Aluna Partners, said, “The online food delivery market is a mega trend that is here to stay. We believe that The Cloud will gain a significant market share in the UK market through the acquisition of KBOX. Having looked at many food tech business models, we believe The Cloud is emerging as a global market leader and are excited to support such a fast-growing venture.”
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About The Cloud
Founded in 2019 by Georges Karam and Kamil Rogalinski, The Cloud is an innovative start-up that empowers underutilized kitchens to earn revenue, increase their geographical reach and enter the high-in-demand food delivery space. Today, It has a portfolio of 70 brands across 28+ platforms and 1,400+ kitchen partners in the UAE, and is established in 7 countries.
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